Market Brief Series / EP. 445 / 15th Nov. 2018

lordoftruth (71)in #forex • 6 years ago

Overall there is minor strength in the NZD, AUD, EUR, and JPY. Weakness in the USD, CAD and CHF.
USD eased for a second day despite higher US consumer inflation. The ICE Dollar Index fell 0.3% on day to 96.99.
Gold Flat lined in Asia and could rise well above the immediate resistance of $1,212 if the US retail sales miss estimates by a big margin.
Oil prices continued to fall on Thursday as data revealed crude inventories have been rising more than expected.
USD/JPY is showing signs of life, having hit a low of 113.30 in the overnight trade.
GBP/USD has found itself chained to the 1.3000 major handle as Brexit headlines continue to drag the Sterling up and down the charts.
AUD/USD is trading higher against the U.S. Dollar early Thursday on the back of a surge in Australian employment in October. Earlier in the session, the Aussie was underpinned by increased demand for risk as the UK and the EU inched closer to deal over Brexit.
EUR/USD gained 0.2% to 1.1312. RSI stands above its neutrality level at 50, showing the lack of downward momentum for the pair. Therefore, above 1.1280, look for a further upside with target at 1.1345. Alternatively, below 1.1280, expect a return with 1.1250 as target.
On the data slate there’s UK Retail Sales; Euro-Zone Trade Balance; US Empire Manufacturing; US Philadelphia Fed Business Outlook; US Retail Sales Advance; US Import and Export Price Indices; US Initial Jobless Claims; US Continuing Claims; US Business Inventories and US Crude Oil Inventories.

Today Trading Plan

SELL EUR/USD @ 1.1330 OR BETTER – STOP @ 1.1390 – TARGE T @ 1.1165
SELL GBP/USD @ 1.3000 OR BETTER – STOP @ 1.3050 - TARGET @ 1.2890
BUY USD/JPY @ 113.65 OR BETTER – STOP @ 113.00 – TARGET @ 114.35
SELL CL1218 @ 55.45 OR BETTER – STOP @ 56.20 – TARGET @ 54.65
SELL AUD/USD @ 0.7280 OR BETTER – STOP @ 0.7310 – TARGET @ 0.7210
SELL XAU @ 1210 OR BETTER – STOP @ 1218 – TARGET @ 1192
SELL XAG @ 14.10 OR BETTER – STOP @ 14.60 – TARGET @ 13.50

THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS. YOU SHOULD NOT TAKE ANY MATERIAL POSTED AS RECOMMENDATION.